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Real Estate Prices & Overview

Devoe St / Olive St median real estate price is $1,761,863, which is more expensive than 92.2% of the neighborhoods in New York and 97.8% of the neighborhoods in the U.S.

The average rental price in Devoe St / Olive St is currently $4,358, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.0% of the neighborhoods in New York.

Devoe St / Olive St is a densely urban neighborhood (based on population density) located in Brooklyn, New York.

Devoe St / Olive St real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Devoe St / Olive St neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Devoe St / Olive St are 4.1%, which is lower than one will find in 72.9% of American neighborhoods. Demand for real estate in Devoe St / Olive St is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

Of note is NeighborhoodScout's research finding that the Devoe St / Olive St neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Devoe St / Olive St community truly stands out from the rest in this regard.

Real Estate

The Devoe St / Olive St neighborhood is very densely populated compared to most U.S. neighborhoods. In fact, with 53,150 persons per square mile in the neighborhood, it is more packed with people than 98.6% of the nation's neighborhoods. Even if you drive or take transit to your place of employment, many people enjoy being able to walk in their neighborhood. What many people don't realize is that most of America's premier vacation locations are also very walkable. The Devoe St / Olive St neighborhood is among the top 5% of American neighborhoods in terms of walkability.

In addition, the Devoe St / Olive St neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 85.4% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.

Furthermore, one of the really unique and interesting things about the look and setting of the Devoe St / Olive St neighborhood is that it is almost entirely dominated by large apartment buildings, such as apartment complexes or high-rise apartments. 73.4% of the residential real estate here is classified as such. This puts this neighborhood on the map as having a higher proportion of large apartment buildings than 95.6% of all neighborhoods in America.

Also of note, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 61.5% of the residential real estate in the Devoe St / Olive St neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 96.9% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Modes of Transportation

If you like to ride the train to work, this neighborhood may be for you. NeighborhoodScout's research revealed that 45.6% of the Devoe St / Olive St neighborhood's commuters ride the train to and from work each day, which is more than we found in 99.2% of America's neighborhoods.

Also, a unique way of commuting is simply not to. And in the Devoe St / Olive St neighborhood, analysis shows that 28.5% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Car Ownership

We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Devoe St / Olive St neighborhood has a highly unusual pattern of car ownership. 51.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 98.8% of U.S. neighborhoods.

Diversity

Did you know that the Devoe St / Olive St neighborhood has more West Indian and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.4% of this neighborhood's residents have West Indian ancestry and 24.6% have South American ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Devoe St / Olive St neighborhood in Brooklyn are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.2% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Devoe St / Olive St neighborhood, 63.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 15.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (14.3%), and 6.7% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Devoe St / Olive St neighborhood is English, spoken by 57.1% of households. Other important languages spoken here include Spanish, Italian and Polish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Devoe St / Olive St neighborhood in Brooklyn, NY, residents most commonly identify their ethnicity or ancestry as South American (24.6%). There are also a number of people of Irish ancestry (11.7%), and residents who report Puerto Rican roots (9.4%), and some of the residents are also of Italian ancestry (8.5%), along with some German ancestry residents (6.0%), among others. In addition, 36.3% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Devoe St / Olive St neighborhood spend between 30 and 45 minutes commuting one-way to work (46.3% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (45.6%) take the train to get to work. In addition, quite a number also hop out the door and walk to work to get to work (7.7%) and 7.4% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This neighborhood is distinguished by the high number of residents who take the train to work each day, which can be a very good way to get to work at a lower cost and with less pollution.


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